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Financial News: China's Industrial Output Rises, Retail Sales Fall

China's Industrial Output Rises, Retail Sales Fall

06/14/2020 - 23:13:00 (RTTNews)

(RTTNews) - China's industrial production growth accelerated and retail sales decreased at a slower pace in May, data from the National Bureau of Statistics showed Monday.

Industrial production grew 4.4 percent on a yearly basis in May, faster than the 3.9 percent increase logged in April. Economists had forecast a 5 percent rise.

Retail sales dropped at a slower pace of 2.8 percent in May from last year, slower than the 7.5 percent decrease seen in April. Sales were forecast to fall 2 percent.

During January to May, fixed asset investment decreased 6.3 percent from the same period of last year. Economists had forecast a 5.9 percent fall.

The People's Bank of China injected CNY 200 billion funds into the financial system via medium-term lending facility at a rate of 2.95 percent, unchanged from previous operation.

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